Ayvens stock rebounds 4% after Q3, among top performers in SBF 120

A rebound that reclaims the 20-day moving average but leaves the stock far from its long-term averages

Ayvens stock gains 3.98% to €9.15 during the session, while the SBF 120 advances 1.1%. The stock ranks among the strongest gainers in the index.

After hitting an unprecedented low below €8.60 on October 19, it recovered nearly 3% over the week, but still declined nearly 21% over three months.

The share price is now above its 20-day moving average (€8.86, a difference of 3.27%), while the 50-day moving average at €9.93 remains 7.85% above the price and the 200-day moving average at €10.88 is 15.90% above. The RSI at 48 has returned to neutral territory, far from the oversold levels seen in early October.

Quarterly profit down 11.9%, weighed down by used vehicle resale

Ayvens published this morning a net profit attributable to the group of €240 million for the third quarter, down 11.9% year-on-year, hurt by the result of used vehicle resales, which turned negative. This decline stems from the result of used vehicle resales, which became negative.

Underlying margins, however, improved and costs decreased: the underlying cost of income ratio improved by 3.6 points, to 49.2%.

Based on expected earnings per share, the stock is trading at approximately 7.4 times current fiscal year earnings, according to analyst consensus surveyed.

The group also launched a share buyback program of €450 million, announced on July 30 and executed at approximately 39% by October 16. The €8.60 level marks the support level to watch in technical data, with resistance found at €10.61.